The increases to payments make up £562 going into 2026
The triple-lock ensures the payout is big in 2026(Image: Getty Images)
State pensioners across the UK will receive hundreds of pounds more next year. This increase is due to the confirmation of the state pension rate for 2026/27 under the terms of the triple lock system.
The annual rate for those on the new state pension will rise by 4.7%, bringing it up to £12,535, which is an increase of £562. This boosted payment will take effect in April 2026.
The triple lock ensures that pensions increase each year based on the highest of either inflation, wage growth, or a minimum of 2.5%. In this case, wages have risen by 4.7%, which is the factor driving the current pension increase, as reported by BirminghamLive.
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However, this rise may push more older individuals in the UK into paying income tax for the first time, as tax bands remain frozen.
There have also been claims the triple lock will become unsustainable because it pushes up pension payments too much.
Pension experts at Spencer Churchill Claims Advice said: “From April 2026, the state pension will rise by 4.7%, taking the full new state pension to about £241 a week, or just over £12,500 a year.
“That’s a meaningful increase, especially for those relying heavily on it to cover everyday expenses.”
But the spokesperson warned: “The rise also brings the state pension close to the frozen personal tax allowance, meaning more retirees could end up paying income tax on their pension alone.
“Pension rises look good on paper, but frozen personal allowances mean retirees don’t always feel the full benefiit.
“This is called fiscal drag – where an increase in pension income simply pushes people into tax thresholds.
“Many pensioners who only rely on the state pension will soon find themselves paying tax for the first time, while those with workplace or private pensions are already there.”
They added: “The Government has pledged to maintain the triple lock until the end of this Parliament, but beyond that, nothing is guaranteed.”
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